Lennar was the high bidder yesterday on a 140-acre parcel of Arizona State Trust Land surrounded on three sides by Sonoran Foothills. The home builder paid $22.6 million for the property. The parcel abuts Dove Valley Road to the north and Paloma Parkway to the east. Sonoran Foothills School sits just south of the parcel.
Lennar has not announced plans for the parcel, and it’s not known yet if any possible development would become part of Sonoran Foothills. Were it to be approved for construction at a residential density typical to the area, it might hold 450 or more homes.
State Trust Land, by law, must be “managed for the sole purpose of generating revenues” for its beneficiaries, primarily state education. This translates to the state being required to sell acreage over time, often for development, and direct the proceeds to schools.
Homes for Sale in 85085, 85086 & 85087
Prickett Realty, serving Anthem & North Phoenix
40808 N Laurel Valley, Anthem Parkside
4 BEDS | 3.5 BATHS | 4-CAR GARAGE | 3,484 SQFT | $519,000
Plenty of space inside, outside and in the garage
1619 W Owens Way, Anthem Country Club
2 BEDS | 2 BATHS | 2-CAR GARAGE | 1,157 SQFT | $244,000
Cute & cozy, move-in ready
40616 N Territory Trail, Anthem Parkside
3 BEDS | 2 BATHS | 2-CAR GARAGE | 1,567 SQFT | $299,000
Bright & glowing — and easy decision
Call or text 623-297-2557 to learn more.